If a gain realized on the sale of a personal residence is above the allowed exclusion, the excess may be deferred through a reduction in the basis of the new residence.

Name: If a gain realized on the sale of a personal residence is above the allowed exclusion, the excess may be deferred through a reduction in the basis of the new residence.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

the excess gain may not be deferred through a reduction in the basis of the new residence
 ftis is a potential disadvantage of the new law.

If a Gain Realized on the Sale of a Personal